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CRANES Software is on upward trend and in the last two sessions it was locked at the 10 per cent upper circuit level. The stock has gained 24 per cent in the last one week.

On Friday, it closed at Rs 130 on the BSE with volumes of 64,054 shares; on the NSE, it closed at Rs 129.80 with volumes of 21,252 shares.

Dealers said the rise in the stock has come after stock-split (into Rs 2 face value) and bonus (one share for every share) announcements.

The no-delivery period (from November 2 to November 10), which ended on Thursday for bonus and split, is the main factor for the rise in the stock price. The payment of shares bought during the no-delivery period can be done at the end of this period.

The talk is that some players aware of this started pushing up the stock price. Moreover, shareholders would get bonus shares after some time so the fear of heavy selling from the investor's looks unlikely, dealers said.

FII buying seen in Alembic

ALEMBIC, a pharma company, rose sharply on Friday. The stock closed at Rs 289.10, up 15.39 per cent, with volumes of 3.57 lakh shares; on the NSE, it closed at Rs 288.50, up 14.58 per cent, with volumes of 6.70 lakh shares.

Dealers said the interest in the stock has come after a leading FII has bought shares of the company on Thursday. The talk is that FII interest in the stock has come after the revamp of the management. As per the revamp, three sons of the Chairman, Mr Chirayu C Amin, have been placed in key positions. They are expected to give a new push to the company's businesses, dealers said.

IDFC shines on funds' support

The Government's decision to set-up a new infrastructure finance company has not dampened the outlook of big investors towards Infrastructure Development Finance Company (IDFC).

The talk is that several institutional investors have started buying IDFC stock during its recent fall. Several new FIIs, which have come to India recently, too are buying the shares of the company. Dealers said the focus of the Government towards infrastructure would not affect the future of IDFC even if another company were to be set up.

The huge investment and funds requirement would give a big scope for all financial institutional lending to infrastructure sector.

On Friday, the stock rose 3.68 per cent at Rs 69 on the BSE with volumes of 20.69 lakh shares; on the NSE, it closed at Rs 69, up 3.84 per cent, with volumes of 58.78 lakh shares.

Virendra Verma

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